Russian government seizes shares

Russia has temporarily seized shares held by France’s Danone and Denmark’s Carlsberg, according to a decree published on Sunday.

The decree, signed by President Vladimir Putin, states that the Russian state will “temporarily” manage the shares of Danone Russia and Baltika owned by Carlsberg.

Carlsberg’s decision to sell operations in Russia

And in March last year, Carlsberg announced it would sell all of its operations in Russia, which employs 8,400 people, according to Agence France Presse.

Danone’s plans to divest business in Russia

And last June, the company said it had found a buyer for the activity, which it did not name, more than a year after announcing it was pulling out of the Russian market due to the conflict in Ukraine.

Danone is one of the last international companies to remain in Russia since Moscow launched its military operation in Ukraine in early 2022.
Last October, Danone announced that it plans to divest most of its business in Russia.

The company said it would divest its dairy and plant-based business and retain only its baby food division.

Withdrawal of Western companies from Russia

A large number of Western companies have been withdrawn from Russia since February 24, 2022, when the Russian army began its operation in Ukraine.